SAN FRANCISCO: Walt Disney on Thursday reported better-than-expected quarterly results, fueled by the release of blockbuster films “Aladdin” and “The Lion King” as it prepared for its new streaming television service.
Disney profit in the recently ended quarter was $1.05 billion, down from $2.3 billion a year ago, on revenue that grew 34 percent to $19.1 billion.
The slump in profits came as Disney absorbed key film and television operations of 21st Century Fox and geared up for its launch of the streaming service Disney+ that aims to compete globally against Netflix and others.
“We’ve spent the last few years completely transforming The Walt Disney Company to focus the resources and immense creativity across the entire company on delivering an extraordinary direct-to-consumer experience,” said Disney chief executive Robert Iger.
“We’re excited for the launch of Disney+ on November 12.”
Iger said the company reached a deal for the service to be on Amazon’s Fire TV platform, the latest distribution agreement for Disney+.
Disney shares were up more than five percent in after-market trading following release of the earnings figures.
Revenues in the past quarter were boosted by a 52 percent rise in Disney’s studio operations with box office hits “The Lion King,” “Toy Story 4” and “Aladdin” fueling gains.
The entertainment giant expects revenue in the current quarter to be boosted by the forthcoming release of a sequel to “Frozen” and the final installment of the “Star Wars” film saga.
It will thereafter take a “hiatus” from “Star Wars” box office films but has an array of spin-off shows planned exclusively for its streaming service.
Disney has become the biggest Hollywood player with the acquisition of studio and TV assets from Rupert Murdoch’s 21st Century Fox.
However, integrating Fox into Disney has cost more than expected and the newly added studios have brought in less money than hoped.
Disney saw smaller revenue gains in its cable and broadcasting operations as well as its theme park division.
Iger would not disclose details of pre-sales of Disney+ subscriptions, but said the price — $6.99 monthly — has met with “great enthusiasm” by consumers.
The Disney+ online streaming service will debut in the United States, Canada and the Netherlands before gradually expanding internationally in Europe then rolling out worldwide.
Its films and TV shows will be available, along with the library it acquired from 21st Century Fox. That includes the “Star Wars” and Marvel superhero franchises and ABC television content.
Disney+ will also combine offerings from powerhouse brands including Pixar, with content from Hulu and sports network ESPN.
Apple last week launched a streaming television service that features a budding library of original shows starring big-name celebrities, aimed at winning over its gadget lovers at home and on the go.
The Apple TV+ on-demand streaming service launched in more than 100 countries at $4.99 per month.
Original Apple TV+ shows have so far been met with lukewarm early reviews, but the low subscription price and an offer of year-long memberships free with purchase of the company’s devices was expected to encourage viewers to tune in.
Netflix, meanwhile, has budgeted $15 billion this year for original shows, on top of the billions it has devoted to exclusive productions in recent years.
Amazon, which has deep pockets thanks to its e-commerce and cloud services, has also poured cash into original shows for its Prime Video service.
This sets up a potential spending war among the major streaming players, according to analysts.
Even more competition looms on the horizon, with AT&T’s Warner Media to launch its “HBO Max” in early 2020 after reclaiming the rights from Netflix to stream its popular television comedy “Friends.”
NBCUniversal’s Peacock service is also launching next year.
Disney tops earnings estimates ahead of streaming launch
Disney tops earnings estimates ahead of streaming launch
- Revenues in the past quarter were boosted by a 52 percent rise in Disney’s studio operation
- Disney has become the biggest Hollywood player with the acquisition of studio and TV assets from Rupert Murdoch’s 21st Century Fox
Alkhobar offers a visual feast with 56 works exploring new realities
- Artists from Saudi Arabia and the world are screening creations
- Kingdom’s Lina Saeed Qattan showing ‘Lena and the Magic Carpet’
ALKHOBAR: The sixth International Video Art Forum launched this week at the Cinema Society headquarters in Alkhobar, offering a visual feast for afficionados.
Organized by the Saudi Society for Culture and Arts, in collaboration with the Cinema Society, the event runs for 10 days and will feature groundbreaking video art from around the globe.
A jury of experts selected 56 artworks, narrowed down from 127. And the space showcases work from 29 countries, narrowed down from 41.
“There is no particular theme this year — aside from it being within the realm of ‘imagination embodied, reality transformed,’” Yousif Al-Harbi, director of SASCA’s Dammam branch and general supervisor of the forum, told Arab News.
“This year’s works continue to express the transformation of imaginative ideas and perceptions into tangible works of art that can have an impact on the reality that we live in.”
The videos can be watched in the upstairs space, which is covered with a black cloth door. Only three people can watch the short films as they play on a loop.
This year’s works continue to express the transformation of imaginative ideas and perceptions into tangible works of art that can have an impact on the reality that we live in.
Yousif Al-Harbi, Saudi Society for Culture and Arts director
The longest video is 7 minutes and the shortest under a minute.
A notable video is the 3-minute “Choreography of Space and Time” by German-based Egyptian artist Ehab Aziz that blends abstract imagery and dynamic movement.
In addition, Saudi Arabia’s Lina Saeed Qattan’s minute-long “Lena and the Magic Carpet,” uses artificial intelligence to showcase vibrant colors as Lena travels through the desert.
Arab News spoke with the 21-year-old Yemeni director, Yousef Ahmed, who has lived his entire life in the Eastern Province, about his short film, “Dose.”
“The film is about a depressed person who replaces his medication with sweets after reading a newspaper article,” he explained.
“It explores his journey of shifting perspectives — rising out of his sadness, only to sometimes fall back into it. We’ve all had days like this, and that’s completely normal.”
The film, under a minute long, was shot and edited entirely on a mobile phone over a month, specifically for the forum. “The phone is always available and accessible,” he said.
He added that finding the right music and fitting it into a larger format such as a TV screen was a challenge.
Workshops dedicated to AI and painting with light, were also part of the programming, as well as panel discussions with filmmakers and artists.
The forum has become one of the region’s top international platforms for video art, having featured more than 823 artworks from over 70 countries.
It has also hosted 31 lectures and workshops, offering artists a unique opportunity to connect and share their work with a global audience.
The winners will be announced at the conclusion of the event.
Riyadh festival celebrates Saudi creativity, theatrical arts
- The Riyadh Theater Festival reflects the commission’s commitment to supporting the performing arts and Saudi talent to achieve a strong presence on the regional and international stage
RIYADH: The Theater and Performing Arts Commission will host the second Riyadh Theater Festival at Princess Nourah bint Abdulrahman University.
The commission’s CEO Sultan Al-Bazie announced details of the event, which runs from Sunday to Dec. 26, to an audience of leading figures from the theater world and the media at the Saudi Music Hub.
The festival, he said, was a cornerstone for enhancing the theatrical movement in the Kingdom and raising public awareness of the performing arts.
HIGHLIGHT
The Riyadh Theater Festival reflects the commission’s commitment to supporting the performing arts and Saudi talent to achieve a strong presence on the regional and international stage.
This year’s event would feature 20 performances, selected by a committee of experts, to reflect the diversity of theatrical arts in the Kingdom, including its intellectual and developmental programs, Al-Bazie said.
The festival will also honor the late Ahmed Al-Sabbagh, who was a notable figure in the field.
The Riyadh Theater Festival reflects the commission’s commitment to supporting the performing arts and Saudi talent to achieve a strong presence on the regional and international stage.
It will conclude with the presentation of awards to the distinguished performers.
Prominent artworks at Riyadh Metro stations blend daily life, creativity
- Masterpieces transform the daily commute into a celebration of art, architecture and creativity
- Since its launch in 2019, Riyadh Art has seamlessly integrated art into the urban fabric
RIYADH: Riyadh Art, one of the world’s largest public art programs, has unveiled four monumental public artworks with the launch of the Riyadh Metro, transforming stations into cultural landmarks.
At the King Abdullah Financial District Metro Station, designed by the internationally acclaimed Zaha Hadid Architects, Alexander Calder’s “Janey Waney” takes center stage.
The lofty and colorful sculpture exemplifies Calder’s pioneering spirit in kinetic art, creating a dynamic and engaging experience for visitors.
Nearby, Robert Indiana’s “LOVE (Red Outside Blue Inside)” — one of the world’s most recognizable artworks — captivates visitors with its vibrant interplay of color and universal themes of connection and hope.
Together, these masterpieces transform the daily commute into a celebration of art, architecture and creativity.
At the Qasr Al-Hokm Downtown Metro Station, designed by the renowned architectural firm Snohetta, Ugo Rondinone’s “The Sun” makes a striking golden centerpiece, symbolizing energy and renewal.
Complementing this is Zaman Jassim’s “When the Moon is Full,” a reflective and poetic piece inspired by Riyadh’s cultural heritage.
“These permanent artworks embody our vision of transforming Riyadh into an open-air gallery that enriches the quality of life and fosters a deeper connection between people and art,” said architect Khalid Al-Hazani, executive director of Riyadh Art.
“By collaborating with some of the most creative minds of our time, we’re not just adding art to public spaces — we’re creating cultural landmarks that inspire and engage generations,” he added.
Al-Hazani told Arab News: “The beautiful thing is that there is a specialized program under Riyadh Art dedicated to installing artworks in all 85 stations that we’ve already selected, which will be produced and placed within the upcoming year.”
Led by the Royal Commission for Riyadh City, Riyadh Art is championing cultural innovation and economic diversification, and positioning the Kingdom’s capital as a global center for contemporary art and culture.
Since its launch in 2019, Riyadh Art has seamlessly integrated art into the urban fabric, displaying over 500 artworks by more than 500 local and international artists, hosting more than 6,000 community engagement activities, and engaging more than 6 million visitors.
As the program continues to expand, the number of artworks and initiatives is expected to grow significantly, fostering a sense of community, enriching the city’s identity, and elevating Riyadh’s standing as a global arts destination.
Japanese artist Takayuki Mori’s interpretation of Saudi culture on display at Noor Riyadh
RIYADH: Japanese visual artist Takayuki Mori pays homage to Saudi culture and heritage in his latest work, which can be seen at Noor Riyadh, the Kingdom’s annual festival of light and art.
In “View Tracing #5 ‘LABYRINTH’,” the artist creates a visual manipulation experience featuring prominent cultural elements such as the falcon, mabkhara (incense burner), dallah (coffee pot), and an oud musical instrument mounted on large blocks and steps.
“I designed this with the structures based on Islamic geometrical patterns, so when people see it from the top, you see the patterns. After doing some research, I selected objects inspired by Saudi Arabia and the neighboring regions … These represent the senses — taste, smell, sound,” Mori told Arab News.
All the objects on display are 3D-printed and lined with fluorescent thread which glows in the ultraviolet-lit room, the lines creating geometric shapes that resemble computer-generated graphics.
Viewers cannot physically smell, taste or hear the items, but the artist creates an experience where echoic, olfactory and taste memory come into play.
As they navigate the maze-like pathways they are challenged to test their own memory, creating a unique experience of determining what we presume to be true and what really is in both virtual and physical spaces.
“This physical sculpture and installation was made digital to explore the relationship between two and three-dimensional, the analog and digital Riyadh,” said Mori.
Previous artworks in the series use a grid pattern, but this one features triangular patterns signaling to the motifs commonly found in old houses in Diriyah, the capital of the first Saudi state.
This is Mori’s first time visiting and exhibiting his work in the Kingdom and he expressed his optimism for the region’s art scene: “It’s very powerful and energized. I’m very excited for the future here. I’ve talked with artists from Saudi and other countries and they are very motivated, so I got some inspiration from them and I’d like to continue that in my work.”
Dutch artist Vincent Ruijter’s exploration of heritage and ethnicity on show at Noor Riyadh
RIYADH: Dutch artist Vincent Ruijters explores themes of identity and self at the ongoing Noor Riyadh, the annual Saudi festival of light and art. The festival runs until Dec. 14.
At this year’s edition, Ruijters digs deeper into hybrid cultures through the interplay of light, shadow and fabric. “This is telling my own story from a very personal way. But by doing that, hopefully connecting to all kinds of people,” Ruijters told Arab News.
Set in a studio in the Jax District, one of the three main festival hubs, “Selintas Selalu” is a kinetic installation: a steel-based structure stands at the center of the space where strips of red fabric hang off vein-like rods. A light is suspended in the center while steel light structures with sharp metal spikes frame the surrounding walls.
The work came about after three months’ research in Indonesia, where the work was created. While he was born and is based in the Netherlands, Ruijters’ mother is a seventh-generation Indonesian, with family roots going back to China.
These multi-ethnic groups, referred to as Peranakan, demonstrate a fusion between Chinese and Indonesian culture. “They have their own arts, colors, patterns, music, and their own culture,” he said.
The Betawi people, native to Jakarta and its outskirts, blend cultures including native Indonesian, Arab, Chinese and Portuguese.
“Actually, a lot of Chinese and Asians immigrated after the independence of Indonesia after the Second World War because the colony was over. So, they went to the Netherlands and America, and then they had children like me, but those children often do not know much about their ancestors,” Ruijters said.
Taking ownership of his own difficult history, he decided to research the topic not just for himself but also “for my other generations of Chinese Indonesians living in the Netherlands, younger people, to show them: this is your heritage,” he said.
The mix of cultures is realized in the motifs: the sun-shaped lamps on the periphery which are reminiscent of kembang kelapa decorations, the petal shapes at the structure’s base that are popular in Javanese batik dyeing techniques, and the red fabric, which is made in collaboration by Chinese and Indonesian craftsman with a special red color, associated with the Peranakan culture. This fabric was specially made in a batik house for this project.
“To make big installations, it’s never one person,” Ruijters said. “So, I was always trying to emphasize this as part of a team. I worked with an Indonesian electronic engineer, with a Dutch electronic engineer, with the batik workshop house for the fabric … I’m more like a guide to the creative process,” he said.
The artwork branches out from the light in the center, a symbol of Ruijters’ ancestors. As time progresses, the lamp moves forward, symbolically straying from those strong roots of the past, toward the twiggier branches at the forefront, leading us to the present.
Shadowplay is an important element, because it preserves Indonesian culture through shadows as a means of accessing an inner world. “You can feel your ancestry; you can feel the past shivering and whispering to you. And this is similar, I think, to the guiding light that is the constellation of the theme … I think shadow is a beautiful way of expressing that, because you cannot touch it. It's there, but it’s also not,” he said.
